Since launching in 2018, The Block has cemented its position as a source for independent news and research in the digital asset space.
Today, we are announcing crucial next steps in our journey to build out the information services firm, our products, and global team. Part of that expansion includes changes to our senior management team, namely the promotion of our COO Mike McCaffrey to the position of CEO. Our founder, Mike Dudas, will shift his focus to a newly formed role as chairman of the board.
Dudas’ passion for digital assets and bitcoin birthed a firm that originally sought out to cater to new entrants to the market with news, educational guides, and events. It was a time when consumer interest outpaced enterprise offerings and the desire for clarity in a market known for its myriad opinions and misinformation. To start, The Block aimed to serve as a counter to the noise with its “Crypto Simplified” approach. Mounting interest in digital assets and blockchain technology from companies ranging from Facebook to J.P. Morgan, has pushed us to tailor our suite of products to serve a broader client profile over time.
Since the third quarter of 2019, the firm’s revenue and number of research engagements have doubled, all while prudently growing the team. We’re extremely humbled by the trust placed in us by our customers and the amount of engagement received to date. Each of us are excited to continue this trend.
Meanwhile, The Block has rebranded its flagship research product, Genesis, to The Block Research. Our research team, composed of industry experts and prior practitioners, is doubling down on its efforts to serve clients, which run the gamut from financial services companies, including various banks and institutional investors, to regulatory agencies and a number of financial technology companies. The team has produced more digital asset research content than any other firm and has helped bring the nascent space into the mainstream with regular citations in publications such as Bloomberg News, the Financial Times and the New York Times. The Block Research has bolstered its offerings in 2020 with monthly analyst calls, reports and tailored research engagements. The consistent production of quality information has led to many of our clients choosing to outsource any and all research needs to The Block’s team.
On the news front, The Block has seen all-time highs in traffic, with more than 1 million page views per month, and a corresponding increase in subscribers since the beginning of the year. The Block’s work has also been included in investigations by federal agencies such as the Securities and Exchange Commission and FBI. Fueling growth is an expansion of the team and a focus on in-depth analysis, breaking scoops, and high-profile interviews. We are excited about recent hires on the news leadership team as well, including our Managing Editor Michael McSweeney, who built out CoinDesk, and our latest addition, News Editor Michael Orcutt, a seasoned MIT Tech Review alumni.
Our news team has continued to explore and build out our multimedia strategy via special projects and our flagship podcast The Scoop, which has featured executives from major Wall Street firms including Goldman Sachs, State Street, and Fidelity.
As the industry evolves, so too does The Block. We now have a leadership structure that will allow us to maintain our lead and take full advantage of future B2B opportunities. The Block, through independent journalism and research, will continue to fulfill its mission of being the first and final word in digital assets.